Speaker：Dr Jianren Xu (Mihaylo College at California State University)

Time：9:00-11:00 May 22,2017(Monday)

Site：A511

Abstract：Managing corporate risks with an integrated, holistic approach has gained popularity over the past two decades, and about 50 percent of the Standard & Poor’s (S&P) 500 firms have an Enterprise Risk Management (ERM) program by 2016. This research examines the determinants of ERM adoption decisions of all firms listed in the S&P 500 index, excluding financial services firms and utility firms. We find that firms, which invest in long-term relationships with their workforce by providing better employee benefits, and firms which rely more on recent long-term debt issuances are more likely to adopt ERM. These results support the view that firms’ relationships with their stakeholders are a major determinant of firms’ ERM adoption decisions.